Sirius XM shareholders OK reverse stock split -- it's not going to help

Well, aren't you just a little ray of sunshine! With the bailout of the auto industry now approved, and the common knowledge that after a long recession there is generally a large upswing, I believe Sirius has a legitimate chance!

Mr. Karmazin also stands a good chance of loosing a lot of XM subscribers acquired through the merger with his elimination of many former XM channels. Many - if not most - of my favorite XM channels have gone away and their Sirius "you might like..." channels are not even close and have too much talking. I have considered cancelling my multi-radio subscription since most of the channels I liked are gone but as a shareholder I wouldn't help the cause any, would I. C'mon Mr. Karmazin... give us our XM channels back and you get to keep the subscriber's money... it's win-win for all of us!

Oh, Hoagie58, I know. I don't enjoy being all gloomy about Sirius. Like almarote I'm a subscriber and I like Sirius. I hope Karmazin is listening to subscribers like almarote and I also hope you're right...

I get it that the SIRI investors approved every item asked by the Board and Mel Karmazin.

I suspect that the deck was heavily stacked against the vast majority of individual stock holders whose votes mattered not simply because they held less than the few wealthy patrons holding likely 75percent of the shares.

I'd bet every one of my SIRI shares that those core holders are now in the process of dumping SIRI stock.

I offer as Proof the following facts that this is happening.

By the volume on SIRI that traded during regular session 12/19/2008 was approx 44Million shares. But afterhours trading on SIRI was 105Million shares. Of that 105M shares, over 97Million shares were traded in 7 blocks of 6.7Million and 7 blocks of 7.1Million shares at $0.1221

Somebody just bought 2.78percent of SIRI. (Using the ratio of issued shares to traded shares). in LESS THAN ONE MINUTE.

The problem I see is that the share price was far below the market at the time of the trade. Now the Day Low had fallen to $0.115 at 4pm but the volume was only 2.1k shares in 8 trades. For nearly every trade over 100k the share price was far lower than the trades just before and just after by nearly a full cent. Three trades of nearly 3million shares total were closed at the afterhours low of $0.1110

All other afterhours trades averaged 15k shares trading at an average price of $0.1260

This appears to me as a deliberate attempt to depress SIRI share price. I know of only a few shareholders that have the ability and motivation to dump their stock at an obvious loss of at least 15percent on the intraday average price.

I'd be very happy to see the SEC investigate SIRI and it would not keep me awake at night if Mel and his wrecking crew were indicted on securities fraud.

Mel, I can only pray for justice and that criminal charges are brought against you. May it be that a jury of twelve good citizens (Probably a little poorer nonetheless) mete out a fair verdict against you.

almarote stated "give us our XM channels back and you get to keep the subscriber's money... it's win-win for all of us." Which is an observation from a strictly XM subscribers point of view. I lost quite a few Sirius channels I enjoyed, and in many ways I agree with almarote's point of view, but from the other side of the field.

Unfortunately, this is the single most logical move that the merged company has made. Half of the talent is no longer employed, which means considerable cuts in cost. As far as the stock goes, I'm willing to risk a small amount on it. Currently it's at .12/share. The hope rests in the auto industry not faltering completely, as well as banks being able to start lending again. I'm not sure if it's the same situation now, but a while ago Sirius was offering a free subscription for a year with the purchase of a new vehicle that was equipped with a receiver. I think that it would be a solid idea to extend this kind of thinking a bit further and offer free access for, say 3 months for beand new subscribers with the purchase of a new standalone unit. There are some fairly inexpensive radios out there that, along with 3 months of service, would possibly push people more into trying it out. I don't believe that extra subscribers would cause any of the companies satellites to work any harder or cost any more money to maintain. The logic is that once people try it, they don't want to leave it. It's like cable television. I cannot tell you how many people will keep their homes "heated" at almost freezing temperatures who I know with the justification that they'll go crazy without cable programming. Sirius/XM is essentially the same thing, but in a different medium.

Regardless, I have a great deal of confidence in Karmazin. I truly believe that had the merger came about sooner, and that a better arrangement could have been made in order for the merger to go through, none of this would be happening.

Frustrating. I own 4300shares and truly it is a good product..but why keep signing the likes of a mad dog Russo who was old news in NYC to a 5 million dollar contract and then have him in direct competiton to NFL network programs and ESPN etc., no sense and as a buisnessman, well Mell hope you read this and know that you are not that smart now are you..so do something to get theses shares back...FJN

Melly has it right. The stock is toast. I wrote the same thing 18 months ago.

The product is fine...but McDonald's does not make the best hamburgers, Microsoft does not make the best software, and Motorola's Iridium Satellite phone system provided a great communications system and collapsed for similar reasons.

Internet radio will take its place.

What and how can we do to help keep Siri stock on the market so as not to loose all our money. will the bailout help?

The share holders would best be served by Sirius-XM selling out to a Internet based company such as our Hollywood Tonight LLC. A private company whose goals include Internet and regular radio. CEO Mel Karmazin would be fired or demoted as he doesn't have a clue as to the brandings he manages and what to do with it sadly. We know what to do with Sirius-XM to make it a wildly popular system again.

John Huckleberry
CEO
Hollywood Tonight LLC
www.hollywoodtonightllc.com corporate site
www.hollywood-tonight.com media press site
www.hollywoodtonightproductions.com production web site
www.newyorktonightproductions.com production web site
www.hollywoodtonightmagazine.com print site
and so on and so forth...
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